Property Underwriter

Great Lakes Insurance SE; London; Hybrid; GBP 50,000 - 80,000; Full time

Job summary

A leading company in the insurance and reinsurance sector seeks an Underwriter to join their London team. The successful candidate will analyze risks and provide tailored insurance solutions while engaging with brokers and clients. This hybrid role requires strong underwriting expertise and relationship management skills.

Benefits

25 days annual leave with purchase option

Private medical insurance

Employer contributory pension of 10%

Qualifications

• Several years of practical professional experience required.
• Experience in broker-driven and London markets preferred.
• Strong leadership and teamwork skills.

Responsibilities

• Acquire, assess, quote, and underwrite facultative reinsurance.
• Cultivate relationships with brokers for business development.
• Deputise for the Underwriting Manager when required.

Skills

Negotiation

Relationship Building

Risk Analysis

Underwriting Processes

Teamwork

Education

ACII qualified or equivalent

Relevant professional qualification

Job description

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Together, we engage with everything we have and are, to help humankind act braver and better.

Based on our deep industry expertise, we can provide complex and efficient coverage solutions for single risk business globally. By single risk, we mean all types of individual risks – primary insurance (direct) for large corporates and facultative reinsurance for both commercial/SME and industrial business supporting our cedants.

Munich Re Great Lakes F&C offers direct insurance to large corporate clients and facultative reinsurance to our cedants across the globe. Our 550+ experts provide the full single-risk expertise of Munich Re to our partners everywhere. Acting as one team across 20 countries, we ensure our cedants and corporate clients enjoy the best solutions and services across all lines of business. We are proud that leading cedants and the world's largest companies choose Munich Re Great Lakes F&C as their partner.

It is an exciting time to join our growing and evolving organisation, help us shape the future of direct insurance service provision!

About the role:

The London Property business unit of Munich Re F&C (Facultative & Corporate) provides custom insurance and Reinsurance solutions to the global Property industries on a proportional and non-proportional basis. The team is a recognised market leader in this class of business, and we are looking for an Underwriter for a position based in London.

The job is to have daily broker contact and direct contact with clients, and internal liaison with other units within Munich Re. You will report into a Senior Underwriter. This is a Hybrid working position with the office based in London.

Job Purpose:

To analyse and assess risk to calculate required premiums in order to underwrite a balanced and profitable portfolio of business.

Key Responsibilities:

To acquire, assess, quote and underwrite facultative reinsurance and direct insurance offers on the London market through brokers, predominantly by using the relevant MR quotation and local monitoring tools.

To provide tailor made solutions and ensure a profitable portfolio

To check contract wordings and conditions according to MR underwriting guidelines

To cultivate relationships with London brokers for business development purposes and exploit new business potential through these sources

To participate in London working groups (e.g. IUA) and MR topic networks

To contribute (e.g. through lectures) to market events

To conduct market and portfolio analyses, and prepare reports

To deputise for the Underwriting Manager when required

General Duties and Tasks:

Ensure client satisfaction by advising and assisting on insurance and risk matters

Interact with other departments in the Branch and Home Office

Provide technical input to market working groups as required

Ensure proper administration of accounts, use and update of systems as required to lower the administration costs

Share knowledge within the Underwriting department to ensure dissemination of best practice

Assist in the production of the annual business development plans

Support and enhance the image of MR

Key Skills and Experience:

Several years of practical professional experience

In depth knowledge and experience, preferably in a broker driven market; London market experience would be a bonus

Advanced knowledge of MR underwriting processes and systems

Good negotiation and relationship skills

High level of commitment and ability to work under pressure

Strong leadership and teamwork skills and willingness to share knowledge

Qualifications and Educational Requirements:

ACII qualified (or at least have made significant progress towards this qualification) and/or alternative relevant professional qualification.

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

About Us:

Here at Munich Re we want to offer our staff the opportunity to grow in an exciting and diverse working environment. We believe that your ability to apply your outstanding knowledge crafts the future, the future of our clients, of Munich Re and of course your own.

Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.